Litecoin summary

WHAT IS LITECOIN

Litecoin is an open-source, peer-to-peer cryptocurrency that forked from Bitcoin in 2011

STRENGTHS

  • Faster transactions that Bitcoin
  • 2.5 min block time compared to Bitcoins 10 min.
  • Low transaction fees- long term avg <$0.10

WEAKNESSES

  • Low merchant adoption
  • More vulnerable to a 51% attack than other top 10 coins

OPPORTUNITIES

Future upgrades like Lightning network and Atomic swaps could potentially turn Litecoin into a powerhouse. This would allow instant transactions and even lower fees which could make Litecoin the #1 transaction Currency.

THREATS

Litecoin is currently considered the silver to Bitcoins gold. It will need to shake off this misconception to fulfill its potential.

Other prominent coins that could take litecoins market share are Bitcoin Cash and Dash.

5 YEAR OUTLOOK

Litecoin has been around for a long time and will likely still be going strong in 5 years. Whether it stays in the top 10 will depend on how well it can stay agile and implement new technology.

  • www.Binance.com 
  •   Over 80+ Currency pairs. No verification to trade crypto to crypto.
  • Fees: As low as 0.1% trading fee
  • Supported countries: Worldwide
  • Deposit methods: BTC, ETH, LTC, NEO & BNB

  • www.coinspot.com.au
  •   60+ Altcoins available.  User friendly.
  • Fees: 1-3%
  • Deposit currencies: AUD*, BTC, LTC, DOGE
  • Payment methods: BPAY, POLi, cash, cryptocurrency


Disclaimer- The Information on this website is provided for education and informational purposes only. The Information contained in or provided from or through this website is not intended to be and does not constitute financial advice

One thought on “Litecoin summary”

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